Swimming legend Ian Thorpe revealed that he is gay and battled depression and alcohol abuse for the greater part of his world-beating swimming career.

In an extraordinarily confessional interview with British talkshow legend Michael Parkinson, aired on Channel Ten on Sunday, Thorpe put an end to years of speculation and contradicted his own numerous and declarative denials to say that he is gay.

Ian Thorpe talks about his private life, including struggles with depression. Photo: Supplied

"I'm not straight," Thorpe said.

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Thorpe said he decided only in the past two weeks to confront rumours that followed him, he revealed, since he was 16, or even felt able to tell his friends and family.

Thorpe said he kept his struggles with alcohol abuse to himself to protect his family.

Thorpe's rapid ascent into legendary status at 17 years of age did not help his mental health and he first sought psychological support in his teens.

"I'd accomplished my dream at 17, I could have walked away from the sport," he told Parkinson. "I didn't understand why I wasn't completely over the moon with these results."

Thorpe said he now regretted his decision to walk away from the sport at the age of 24, a decision he took "partly" because of his depression, but largely because of the pressures of media intrusion and expectation.

"I wish that I hadn't," he said. "I felt my career was not my own – it was other people's."

Thorpe was reportedly paid $400,000 for the interview, which was made part of his deal to work as a commentator for the Commonwealth Games for Channel Ten.

Thorpe, who made a failed bid for selection for the 2012 Olympics, spoke of his ongoing problems with a shoulder infection and revealed that it may stop him from ever swimming again.

"I may not be able to lift my arm above my head ... which would mean that I would never swim again," he said, relaying a conversation with his doctor.

Thorpe said he was due for further surgery but was still aiming to swim again.

14 Jul
Ian Thorpe contemplated coming out as gay prior to the 2000 Sydney Olympics, but the swimming superstar decided against it because of the detrimental financial consequences suffered by a Canadian swimming star.

14 Jul
He’s one of Australia’s most acclaimed athletes, winning five Olympic gold medals and setting 22 world records before retiring at 24. But it hasn’t always been a charmed life for swimmer Ian Thorpe. The former Olympian has battled depression and for years denied speculation he was gay. Now, in a tell-all interview with Sir Michael Parkinson, Thorpe sets the record straight.